2018 Retirement Plan Limits
The Internal Revenue Service recently announce the retirement plan contribution limits for 2018. The amount of salary that an eligible employee will be able to contribute will increase by $500, from $18,000 to $18,500. If an eligible employee will be at least 50 years old in 2018, they will be able to contribute an additional catch-up amount of $6,000, for a total of $24,500.
How to change retirement contributions
The beginning of a new year is a good time to evaluate what you are contributing to your retirement plan. Eligible employees can update their contributions by selecting the retirement change life event in Ultipro. While changes can be made to retirement contributions at any time during the year, they will need to be entered between December 18th and December 28th, in order to be effective on the first pay of 2018.
If you have questions or need assistance, please contact the HR Service Center at 1-833-599-2100 (available from 7:00 am to 4:30 pm, Monday through Friday).
2018 Open Enrollment is now closed.
Reminder: Benefit elections become effective on January 1, 2018
Medical, dental, and vision plans, life insurance, Live-Balanced EAP services and more do not become effective until Jan. 1. That includes Health Savings and Flexible Spending Accounts elected during the open enrollment period.
If you did not go into the system during the open enrollment period, you will receive default coverage for 2018. Default coverage for medical, dental, and vision plans is set to the plan that is closest to your current 2017 plans. The coverage level will be based upon your 2017 level for you and your enrolled dependents. If you declined coverage in 2017, then your coverage for 2018 will set to “decline” by default.
We will communicate more about these programs in December and January as the new programs go into effect. Please continue to use this site as a resource for your 2018 benefits coverage.
If you were recently contacted about the opportunity to enroll in medical coverage under the ACA, please refer to the email/letter you received for instruction on how and when to elect coverage for 2018.
Visit the benefit pages on this site to learn more:
- Medical & Prescription Drug Coverage
- Flexible Spending Accounts
- Dental & Vision Insurance
- Life and Accidental Death & Dismemberment Insurance
- Employee Assistance Program
For additional questions, ask your local HR representative or call the HR Service Team at 1-833-599-2100 Monday-Friday from 7:00 a.m. to 4:30 p.m.
WVU Medicine Wellness Rewards Program Deadline Has Passed
The deadline for Wellness Rewards has passed.
New hires and other employees who enrolled in WVU Medicine coverage starting on or after Sept. 1, 2017 cannot complete Wellness rewards right now. You will be given the opportunity to qualify. Instructions will follow in late December.